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Fima Corporation Berhad
(21185-P)
financial statements
138
NOTES TO THE FINANCIAL STATEMENTS
18. TRADE AND OTHER RECEIVABLES (Cont’d.)
Receivables that are neither past due nor impaired
Trade receivables that are neither past due nor impaired are creditworthy debtors with good payment records with the Group.
None of the Group’s trade receivables that are neither past due nor impaired have been renegotiated during the financial year.
Receivables that are past due but not impaired
The Group and the Company has trade receivables amounting to RM38,814,000 (2016: RM121,578,000) and RM391,000
(2016: RM243,000), respectively that are past due at the reporting date but not impaired.
No allowance for impairment is made as in the opinion of the directors, the outstanding debts are expected to be collected in full
within the next twelve months.
Receivables that are impaired
The Group’s and the Company’s trade receivables that are impaired at the reporting date and the movement of the allowance
accounts used to record the impairment are as follows:
Group
Company
2017
2016
2017
2016
RM’000
RM’000
RM’000
RM’000
Gross amounts of impaired trade receivables
1,554
1,851
-
-
Less: Allowance for individual impairment losses
(1,554)
(1,851)
-
-
-
-
-
-
Movement in allowance accounts:
Group
Company
2017
2016
2017
2016
RM’000
RM’000
RM’000
RM’000
At 1 April 2016/2015
1,851
1,182
-
5
Charge for the year (Note 6)
16
1,434
-
-
Write back of impairment loss (Note 6)
(481)
(748)
-
(5)
Bad debts written off
-
(33)
-
-
Exchange differences
168
16
-
-
As 31 March
1,554
1,851
-
-
Trade receivables that are individually determined to be impaired at the reporting date relate to debtors that are in significant
financial difficulties and have defaulted on payments. These receivables are not secured by any collateral or credit enhancements.